Getting started with business tracking

Tracking your business's financial performance is key to effective management. Quicken provides tools to help you organize, categorize, and analyze your business income and expenses, giving you valuable insights. This guide walks you through the steps to set up and begin tracking your business finances.

Get started quickly

To begin tracking your business finances, follow these key steps:

1. Add your business details in the Manage Businesses section.

2. Assign accounts to your business in Account Settings.

3. Start downloading and categorizing transactions to monitor financial performance.

For detailed instructions, see the sections below.

Adding your business details

Setting up your business in Quicken is the first step to tracking its financial performance. You can add or edit your business details in the Manage Businesses section:

1. Navigate to Business > Manage Businesses > Add New Business....

2. Fill in the required fields:

   • Name: Enter your business's name.

   • Industry: Select the industry that best describes your business.

   • Business Type: Choose the appropriate tax form (e.g., Schedule C).

3. Customize your business's color to help visually distinguish it in reports and dashboards.

4. Click Save to add your business.

Assigning accounts to your business

Assigning accounts ensures that Quicken knows which accounts are associated with your business activities. This allows accurate reporting and categorization of transactions.

1. Open the Account Settings for the account you want to associate with your business:

   • Navigate to Settings > Accounts > Select the account.

2. In the Primary Use dropdown, select My Business.

3. Save your changes.

Tracking your business finances

Once your business is set up and accounts are assigned, you can start downloading and categorizing transactions. This process helps you monitor your income, expenses, and overall financial health:

1. Download transactions from your linked accounts.

2. Review each transaction in the Business Dashboard or Accounts view.

3. Assign appropriate categories for business-related transactions, such as:

   • Advertising

   • Office Supplies

   • Cost of Goods Sold

4. Use reports like Income & Expense or Cash Flow to analyze financial performance.

Things to keep in mind

• Make sure to assign the correct categories to each transaction for accurate reporting.

• Regularly review and reconcile your accounts to ensure your records match your bank statements.

• Take advantage of Quicken’s business reports for insights into profitability, cash flow, and tax planning.